Callcom, of Trafford Park, went into administration after directors failed to secure funding.

Now, the company has been bought by Sale-based Eurocall.

Paul Stanley, of corporate rescue and recovery firm Begbies Traynor, who was appointed administrator, said today: ‘‘Callcom installed computer boxes in business premises. The boxes routed phone calls via the cheapest provider.

‘‘It had been going since October 1999 and was turning over around £100,000 a month.

‘‘The directors had a business plan for first two years, based on rapid expansion and, later, a flotation. They needed more money, but market sentiment is against telecoms. They went to institutional investors and current shareholders, but failed to raise finance.

‘‘The business was advertised for sale in March and attracted a significant amount of interest. ‘‘After negotiations with various interested parties, one emerged as the front runner and agreed a purchase on June 18.

‘‘But the deal collapsed through due diligence issues. The firm was running out of money and was placed into administration at the directors’ request.’’

Sixteen people have lost their jobs, but Eurocall is expected to take some of them on.